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Growth Opportunities in Functional Consumables Aftermarket, Forecast to 2023
Growth Opportunities in Functional Consumables Aftermarket, Forecast to 2023
Innovation-as-a-service Business Model will Accelerate Growth in the Molecular Diagnostic Subsegment
12-Dec-2018
North America
Description
Rapid technological turnaround has become a norm in the life science and in-vitro diagnostic industry. Extrinsic factors such as lack of skilled labor to operate the instrumentation as well as functional factors like demand for very high precision and reproducibility of results are driving this technological evolution. As the instrument efficiency goes on increasing, the aftermarket for instruments will gain four to five times the value of the original equipment manufacturing market in the next ten years.
Even though this space is dominated by a handful of very large participants like Thermo Fisher and Perkin Elmer, there has been measurable growth of small- to medium-sized participants in the last five years. A shift in competitive factors from delivering end-to-end product portfolio to providing high-value super-specialized innovation is witnessed. Although there is an evident overlap in the product offerings to research labs and commercial reference labs, a remarkable difference in the purchasing patterns and product lifecycle management has been observed. This research study covers the shifting dynamics between end users and an accelerating trend in consolidation, influencing the purchasing trends. The study also captures the additional play between different value chain participants like the OEMs and CMOs and rising trend in outsourcing. While there has been exponential growth in demand for diagnostic services, there is a constant pressure to do so under budget and skill constraints. This has led to rise of new technologies that are not only pushing the envelope on sensitive, rapid, and accurate testing but are also affordable in terms of reducing the cost of total treatment cycle. This study identifies some of the key technology trends empowered by innovation in functional consumables and growth opportunities, which are set to drive the market in the next five years.
In conjunction with technological evolution, the study highlights new and emerging business models that have enabled certain companies to succeed in this incrementally competitive market. It also gives an overview of the competitive environment, providing brief insights on some of the game-changing participants as well as emerging participants, which have the potential to unlock growth in this market. Germination of innovation continues to remain fragmented but larger participants have managed to bring them together on a common platform to create integrated sub-assemblies. Therefore, the focus is also given on some of the leading M&A activities impacting the market as well as present and future market trends that would shape the market.
Acknowledging the ongoing trends in consumerism pervasive across B2B as well as B2C channels, the study lays down strategic imperatives for successful go-to-market strategy. Lastly, the study also captures threats from sensor-based technologies to existing cadre of disposable functional consumables and more noticeably opportunities in circumventing the threat through collaborative growth.
This research service also provides in-depth revenue and geographical market analysis of 3 key market regions, EU5, North America, and Asia-Pacific, identifying purchasing trends and technological demands in each region.
Key Issues Addressed
- What are the biggest opportunities for companies in clinical diagnostic consumables space?
- How are the various regions around the globe positioned to monetize the market opportunities? What are the key regional barriers to entry?
- How are the business models evolving across the value chain and impacting the different stakeholders?
- What is the total market size and projected growth of functional consumables market?
- How product offerings in this market are likely to emerge? What is the rate of innovation adoption and how is it solving the unmet needs of customers?
- Which are the key game-changing companies in the segment and how are they riding the growth curve?
Author: Khushbu Jain
Table of Contents
Purpose of this Study
5-step Process to Transformational Growth
Key Findings
Scope and Segmentation
Market Engineering Measurements
Big Market Themes
Strategic Imperatives for Manufacturers and Distributors
Market Definition
Value Chain
Market Background and Overview
Market Drivers and Restraints
Trends in Instrumentation Driving Innovation in Consumables
Innovation in New Product Development
Go-to-market Approach
End-user Business Models
Factors Driving Business Model Shift
Regional Dynamics
Methodology
Market Engineering Measurements
Functional Consumables Aftermarket—Revenue Forecast
Revenue Forecast for Life Science Functional Consumables Aftermarket
Revenue Forecast for IVD Functional Consumables Aftermarket
Functional Consumables Aftermarket—Geographic Breakdown
Market Attractiveness for Diagnostic Consumable Sales
Market Share Analysis
Competitive Environment
Vendor Landscape
Competitive Landscape and Benchmarking
Collaboration Assessment
Key Companies to Watch
Macro to Micro Visioning
Framework for Innovation
Digitalization of Consumables
5 Major Growth Opportunities
Growth Opportunity 1—Innovation-as-a-Service
Growth Opportunity 2—Complex Consumables
Demand for Complex Consumables
Growth Opportunity 3—Smart Consumables
Cue Health Inc.
Growth Opportunity 4—eCommerce Platforms
Drivers for eCommerce Adoption
Qiagen—Digitizing the Entire Enterprise
Growth Opportunity 5—Emerging Markets (India and China)
Growth Opportunities by Region—2018 to 2023
Top 3 Predictions for the Market
Legal Disclaimer
R&D Expenditure of Top Companies
List of Exhibits
- 1. Total Functional Consumables Aftermarket: Market Engineering Measurements, Global, 2018
- 2. Total Functional Consumables Aftermarket: Competitive Structure, Global, 2018
- 3. Total Functional Consumables Aftermarket: Competitive Benchmarking, Global, 2018–2023
- 4. Total Functional Consumables Aftermarket: Key M&A Assessment, Global, 2018
- 5. Total Functional Consumables Aftermarket: Growth Opportunity by Region, Global, 2018–2023
- 1. Total Functional Consumables Aftermarket: Market Engineering Measurements, Global, 2018
- 2. Total Functional Consumables Aftermarket: Value Chain, Global, 2018
- 3. Total Functional Consumables Aftermarket: Market Drivers and Restraints, Global, 2019–2023
- 4. Total Functional Consumables Aftermarket: Procurement Model-adoption Rates, Global, 2012–2016
- 5. Total Functional Consumables Aftermarket: Revenue Forecast, Global, 2016–2023
- 6. Total Functional Consumables Aftermarket: Market Share by End User, Global, 2018–2023
- 7. Life Sciences Functional Consumables Aftermarket: Revenue Forecast by Research Platform, Global, 2016–2023
- 8. Life Science Functional Consumables Aftermarket: Market Share by Analysis Segment, Global, 2018–2023
- 9. IVD Functional Consumables Aftermarket: Revenue Forecast by Technology Platform, Global, 2016–2023
- 10. IVD Functional Consumables Aftermarket: Market Share by Technology Platform, Global, 2018–2023
- 11. Total Functional Consumables Aftermarket: Percent Revenue Forecast by Region, Global, 2018 and 2023
- 12. Total Functional Consumables Aftermarket: Market Attractiveness, Global, 2018
- 13. Total Functional Consumables Aftermarket: Market Share, Global, 2018
- 14. Total Functional Consumables Aftermarket: Key Companies to Watch, Global, 2018
- 15. Total Functional Consumables Aftermarket: Innovation Framework, Global, 2018–2023
- 16. Total Functional Consumables Aftermarket: Digital Strategies, Global, 2018
- 17. Total Functional Consumables Aftermarket: Major Growth Opportunities, Global, 2018–2023
- 18. Total Functional Consumables Aftermarket: Analytical Instrumentation Market Share, Global, 2020
- 19. Preferred Purchase Channel for Lab Equipment and Supplies: Global, 2017
- 20. Total Functional Consumables Aftermarket: R&D as Percentage of Revenue, Global, 2017–2018
Popular Topics
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Table of Contents | | Executive Summary~ || Purpose of this Study~ || 5-step Process to Transformational Growth~ || Key Findings~ || Scope and Segmentation~ || Market Engineering Measurements~ || Big Market Themes~ || Strategic Imperatives for Manufacturers and Distributors~ | Growth Environment—Market Overview~ || Market Definition~ || Value Chain~ || Market Background and Overview~ || Market Drivers and Restraints~ | Growth Environment—Market Dynamics~ || Trends in Instrumentation Driving Innovation in Consumables~ || Innovation in New Product Development~ || Go-to-market Approach~ || End-user Business Models~ || Factors Driving Business Model Shift~ || Regional Dynamics~ | Growth Environment—Market Forecast~ || Methodology~ || Market Engineering Measurements~ || Functional Consumables Aftermarket—Revenue Forecast~ || Revenue Forecast for Life Science Functional Consumables Aftermarket~ || Revenue Forecast for IVD Functional Consumables Aftermarket~ || Functional Consumables Aftermarket—Geographic Breakdown~ || Market Attractiveness for Diagnostic Consumable Sales~ | Growth Environment—Competitive Playbook~ || Market Share Analysis~ || Competitive Environment~ || Vendor Landscape~ || Competitive Landscape and Benchmarking~ || Collaboration Assessment~ || Key Companies to Watch~ | Visioning Scenarios~ || Macro to Micro Visioning~ || Framework for Innovation~ || Digitalization of Consumables~ | Growth Pipeline—Growth Opportunities~ || 5 Major Growth Opportunities~ || Growth Opportunity 1—Innovation-as-a-Service~ || Growth Opportunity 2—Complex Consumables~ || Demand for Complex Consumables~ || Growth Opportunity 3—Smart Consumables~ || Cue Health Inc.~ || Growth Opportunity 4—eCommerce Platforms~ || Drivers for eCommerce Adoption~ || Qiagen—Digitizing the Entire Enterprise~ || Growth Opportunity 5—Emerging Markets (India and China)~ || Growth Opportunities by Region—2018 to 2023~ || Top 3 Predictions for the Market~ || Legal Disclaimer~ | Appendix~ || R&D Expenditure of Top Companies~ || List of Exhibits~ |
List of Charts and Figures | 1. Total Functional Consumables Aftermarket: Market Engineering Measurements, Global, 2018~ 2. Total Functional Consumables Aftermarket: Competitive Structure, Global, 2018~ 3. Total Functional Consumables Aftermarket: Competitive Benchmarking, Global, 2018–2023~ 4. Total Functional Consumables Aftermarket: Key M&A Assessment, Global, 2018~ 5. Total Functional Consumables Aftermarket: Growth Opportunity by Region, Global, 2018–2023~| 1. Total Functional Consumables Aftermarket: Market Engineering Measurements, Global, 2018~ 2. Total Functional Consumables Aftermarket: Value Chain, Global, 2018~ 3. Total Functional Consumables Aftermarket: Market Drivers and Restraints, Global, 2019–2023~ 4. Total Functional Consumables Aftermarket: Procurement Model-adoption Rates, Global, 2012–2016~ 5. Total Functional Consumables Aftermarket: Revenue Forecast, Global, 2016–2023~ 6. Total Functional Consumables Aftermarket: Market Share by End User, Global, 2018–2023~ 7. Life Sciences Functional Consumables Aftermarket: Revenue Forecast by Research Platform, Global, 2016–2023~ 8. Life Science Functional Consumables Aftermarket: Market Share by Analysis Segment, Global, 2018–2023~ 9. IVD Functional Consumables Aftermarket: Revenue Forecast by Technology Platform, Global, 2016–2023~ 10. IVD Functional Consumables Aftermarket: Market Share by Technology Platform, Global, 2018–2023~ 11. Total Functional Consumables Aftermarket: Percent Revenue Forecast by Region, Global, 2018 and 2023~ 12. Total Functional Consumables Aftermarket: Market Attractiveness, Global, 2018~ 13. Total Functional Consumables Aftermarket: Market Share, Global, 2018~ 14. Total Functional Consumables Aftermarket: Key Companies to Watch, Global, 2018~ 15. Total Functional Consumables Aftermarket: Innovation Framework, Global, 2018–2023~ 16. Total Functional Consumables Aftermarket: Digital Strategies, Global, 2018~ 17. Total Functional Consumables Aftermarket: Major Growth Opportunities, Global, 2018–2023~ 18. Total Functional Consumables Aftermarket: Analytical Instrumentation Market Share, Global, 2020~ 19. Preferred Purchase Channel for Lab Equipment and Supplies: Global, 2017~ 20. Total Functional Consumables Aftermarket: R&D as Percentage of Revenue, Global, 2017–2018~ |
Author | Khushbu Jain |
Industries | Healthcare |
WIP Number | ME1C-01-00-00-00 |
Is Prebook | No |
GPS Codes | 9600-B1,9562-B1,9571-B1,9573-B1,99C1-B1,99C6-B1,9568-B1,9611-B1,9627-B1 |